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It is a small increase. Look at the stats for which mainly are sourced from figures from the govt:

The Government is risking 14.5% (£305bn) of GDP to collect 0.17% (£1.3bn) of tax revenue but lose at least 3.3% of tax revenue in the process (+ another 20% if including lost VAT), just to catch 3.4% (170,000 or 230,000) of PSCs while impacting 100% of PSCs (5 million), 60,000 engager organisations and 20,000 agencies.